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by Stockwatch Business Reporter

West Texas Intermediate crude for September delivery added 57 cents to $45.74 on the New York Merc, while Brent for September added 47 cents to $49.99 (all figures in this para U.S.). Western Canadian Select traded at a discount of $17.15 to WTI ($28.59), down from a discount of $15.95. Natural gas for September added 6.4 cents to $2.812. The TSX energy index lost 1.41 points to close at 185.67.

Bill Andrew's Long Run Exploration Ltd. (LRE) added 13 cents to 70 cents on 7.11 million shares, after reaching a deal to sell almost half of itself to Maple Marathon Investments for $200-million. Maple is a subsidiary of MIE Holdings, a Hong Kong-listed producer with operations in China, Kazakhstan and the United States. It plans to acquire 155 million units of Long Run at a generous $1.30 a unit. Each unit will consist of one share and one-fifth of a warrant, giving Maple a 43.9-per-cent interest in the company (before any warrant exercise), assuming that shareholders give their approval at a special meeting that will likely occur in November.

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